Chennai (India) and London (UK), May 21, 2015: Intellect Design Arena Limited, a Specialist in applying true Digital Technologies across Banking & Insurance, won the inaugural and exclusive “Technology Provider of The Year” Award, instituted by Central Banking at a formal ceremony held in London. In a competitive category assessed by a panel with former senior central bankers from around the world, Intellect’s Quantum Central Banking Solution (QCBS), successfully deployed across a diverse range of central banks, stood out as a clear differentiator.

Commenting on the award, Jaideep Billa, CEO, iGCB, Intellect Design Arena Limited, said “Central banks face the difficult task of maintaining stability in a fast-changing and turbulent economic environment, and QCBS enables them to implement their policies with greater speed and accuracy thanks to full automation, real-time visibility, automatic surplus and deficit management, and removal of manual reconciliation. Intellect QCBS – a robust and innovative solution, has proven and flexible business components under a single high-performance architecture that supports central banks with risk-free progressive modernisation. This award reinforces our commitment to transform and empower financial institutions at different stages of technology deployment.”

Intellect has worked with central banks in countries as diverse as Ethiopia, the Seychelles, and most recently, Sweden. Intellect won a competitive tender process in 2014 to upgrade the Sveriges Riksbank’s collateral management system. QCBS deploys a formidable array of advanced technology frameworks including Extreme Account Posting (XAP), Run Time Re Use (RTRU), and Look Ahead Processing (LAP) technologies.

Speaking at the award presentation held in London, Central Banking’s editor, Christopher Jeffery, said “Intellect’s value has been clearly demonstrated by their ongoing work with Sveriges Riksbank (the world’s oldest central bank) and the Reserve Bank of India (RBI) in particular. Intellect’s technology had a direct impact on the efficiency and effectiveness of the RBI’s activities”.

Representatives from Intellect were present at the ceremony, alongside with audience from Central Banks around the globe. Central Banking’s annual awards recognise excellence in serving the central banking community and contribution to public service.

The Award is one of 15 established by Central Banking Publications, to recognise excellence in serving the central banking community and contribution to public service.

Drawing on 25 years of independent and informed reporting, analysis and comment, the Central Banking Awards were judged by a panel made up of the Central Banking Editorial Team and Editorial Advisory Board, comprising former senior central bankers from around the world.

The Intellect design philosophy, a key differentiator in developing solutions for the transformative agendas of CXOs, ensures a dramatic shift from disjointed digital activities to strategically aligned digital outcomes.

The FT 8012 Design Center, the world’s first Design Center for financial technologies, is a physical manifestation of enterprise commitment to design. It powerfully connects dots between Business, Technology and Operations, and accelerates the transformation process for customers. This is where the total Digital 360 journey can be approached, allowing for adoption in a gradual outcome based manner.

Intellect generates annual revenues of over Rs.600 Crore, with product installations in over 200 financial institutions, across 30 countries. The company’s performance is driven by over 3,000 Intellect solution architects, domain and technology experts, with a presence in major global financial hubs around the world.